Section 3
Sec. 3. The Foundation shall initiate, promote and stimulate the creation and rendition of good music by means of grants, loans and other forms of assistance to qualified persons and institutions applying therefor; shall encourage, protect and aid the organization of clubs and societies throughout the Philippines for the promotion of music; shall create scholarships in music for specially gifted citizens; shall build and operate a suitable theater, to be known as the National Theatre of the Philippines; and shall from time to time conduct contests in musical composition and rendition, granting prizes to winning contestants in cash or in the form of scholarships. Whenever necessary, the Foundation may organize benefit concerts anywhere in the Philippines to raise funds for the payment of said prizes and maintenance of such scholarships, and, in general, for the attainment of the objectives of this Act.